Barte aims to scale its operations with the bolstered cash, launching a new credit product later this year.
According to Belvo, the new product will function as a gate for users to initiate payments directly inside third-party apps.
Finnovista is a research and industry 'catalyst' firm that is tracking fintech growth across Latin America and Spain; in a recent report on Brazil, they track 219 fintech startups in the country, making it the most prominent Latin American country based on that metric; Mexico follows with 158 startups, then Colombia, Argentina and Chile each having 55 to 80 such startups; an infographic indicates that 26% of Brazil's fintech startups are in the payments sector, 10% in balance sheet lending (with some web presence or other innovation), 2% in true P2P lending and 8% in crowdfunding. Source
The regulator postponed the implementation of a prudential capital regulation by six months, giving flexibility to fintechs in the sector.
In addition to acquiring a 3.85% equity stake in the fintech Méliuz, BV will have the option to buy all shares of the controlling block.
This is the first acquisition in the history of the Open Finance platform, which was created in 2019 by Pablo Viguera and Oriol Tintoré.
For many players in this market, the new law brings greater legal certainty for investors and companies working with these crypto assets.
Brazil, the largest country in Latin America, is moving closer to regulating cryptocurrencies with its own version of a Bitcoin law.
After the FTX crash rocked the crypto world, Brazil was one of the fastest nations to adapt to the new scenario. Now what's next?
After years of waiting, the central bank of Brazil has finally authorized Meta's WhatsApp merchant payment system.